On September 16, 1992, Soros's fund sold short more than USD 10 billion worth of pounds sterling, profiting from the Bank of England's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency. Finally, the Bank of England withdrew the currency from the European Exchange Rate Mechanism, devaluing the pound sterling. Soros earned an estimated worth of USD 1.1 billion in the process. He was dubbed "the man who broke the Bank of England." UK Treasury estimated the total costs of Black Wednesday at GBP 3.4 billion in 1997.
Here is a top 30 list of his investment positions as of March 31, 2011. Soros Fund Management LLC was valued at USD 7.37 billion. During the quarter George Soros had 679 total positions.
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These are the details of George Soros's top stock initiations, closings, buys, and sells:
Top positions closed out by George Soros: PXP, BBY, BHP, IAU, WMT, LOW, MOT, WLT, FTR, CSGS, CTRN, MT, GTE, GGS, CTXS, BID, IYZ, FHCO,
Top positions initiated by George Soros: AGRO, MSI, VC, CHTR, ITUB, HCA, WNC, BIDU, BEAV, NBL, FOE, FCX, FDX, PWE, SWFT, AMSC, PMTC, FMCN, LVS, MMI, VRTX, WGO,
Top positions decreased by George Soros: GLD, DAL, NG, CCE, KGC, QCOM, HPQ, TGT, GM, YHOO, AAPL, LAZ, MCK, UNP, JPM, DTV, M, TDC, GBX, BPZ, ORCL, MAPP, XL, CISG, NTAP, PLG,
Top positions increased by George Soros: WFC, CVS, C, DHR, ESRX, RL, GILD, NIHD, AMZN, DVA, MSTR, WFT, DISH, URS, ACTG, COH, GOOG, CMCSA, HSP, MCO, VZ, PCLN, WPRT, PBR, HNR, PWER, SWK, DNDN, WDC, T, RFMD, CSTR, ROVI, WBC, PAL, OIH, FLS, FDML, POT, ETFC, ISS, ACAS,
The sector allocation went as follows:
Technology 10.6%
Health Care 10.5%
Industrials 7.7%
Oil & Gas 7.6%
Consumer Services6.3%
Consumer Goods 6.1%
Financials 6.1%
Telecommunications2.6%
Basic Materials 2.1%
Related stock ticker symbols:
AGRO, IOC, MSI, MON, DNDN, VC, C, WPRT, EM, WFC, TEVA, CVS, DHR, AAPL, WFT, CMCSA, LWSN, ESRX, GOOG, VZ, RL, GILD, AMZN, ACTG, NIHD, URS, T, COH, MSTR, NG
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